Cardinal Launches on Cardano: First Non-Custodial Bitcoin DeFi Protocol Enables Cross-Chain Lending and Staking
Cardano has taken a significant step forward with the launch of Cardinal, the first Bitcoin decentralized finance (DeFi) protocol on its blockchain, introduced by founder Charles Hoskinson. This innovative platform leverages MuSig2 multi-signature technology to facilitate non-custodial, cross-chain
Cardano has taken a significant step forward with the launch of Cardinal, the first Bitcoin decentralized finance (DeFi) protocol on its blockchain, introduced by founder Charles Hoskinson. This innovative platform leverages MuSig2 multi-signature technology to facilitate non-custodial, cross-chain transactions, allowing Bitcoin holders to engage directly in Cardano’s on-chain lending and staking markets using Bitcoin UTXOs. Additionally, Cardinal supports the use of Ordinals scripture as collateral, expanding the utility of Bitcoin assets within the Cardano ecosystem.
The protocol incorporates the BitVMX off-chain validation system, enabling seamless interoperability with other major blockchains such as Ethereum and Solana. According to Cardano’s CTO, Romain Pellerin, future upgrades will integrate zero-knowledge proof technology to further boost liquidity and security. Cardinal represents a pioneering solution for Bitcoin holders, providing decentralized exchange access via platforms like Minswap without relinquishing custody, thereby enhancing asset flexibility and cross-chain DeFi participation.
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